CRISPR Therapeutics (NASDAQ:CRSP) Trading Up 9% – Here’s Why

Shares of CRISPR Therapeutics AG (NASDAQ:CRSP) rose 9% during mid-day trading on Thursday . The company traded as high as $55.69 and last traded at $56.7750. Approximately 258,932 shares traded hands during trading, a decline of 86% from the average daily volume of 1,826,694 shares. The stock had previously closed at $52.08.

Analyst Ratings Changes

CRSP has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and set a $110.00 price target (up from $105.00) on shares of CRISPR Therapeutics in a research report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Monday, April 20th. Morgan Stanley reissued an “underweight” rating and set a $33.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, February 17th. Needham & Company LLC raised their target price on shares of CRISPR Therapeutics from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, Wall Street Zen raised shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, CRISPR Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $65.47.

CRISPR Therapeutics Stock Performance

The company’s fifty day simple moving average is $51.73 and its two-hundred day simple moving average is $53.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 17.96 and a current ratio of 17.97. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of -9.29 and a beta of 1.74.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($1.28) EPS for the quarter. CRISPR Therapeutics had a negative net margin of 13,856.54% and a negative return on equity of 25.66%. The business had revenue of $1.46 million during the quarter. Equities research analysts predict that CRISPR Therapeutics AG will post -4.91 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Samarth Kulkarni sold 10,349 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $48.26, for a total transaction of $499,442.74. Following the completion of the transaction, the chief executive officer directly owned 245,834 shares of the company’s stock, valued at approximately $11,863,948.84. This represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel James R. Kasinger sold 3,450 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $48.26, for a total value of $166,497.00. Following the transaction, the general counsel directly owned 91,240 shares of the company’s stock, valued at $4,403,242.40. This trade represents a 3.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 46,535 shares of company stock valued at $2,311,300. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRSP. GSK plc acquired a new position in CRISPR Therapeutics during the 4th quarter valued at about $168,890,000. Orbis Allan Gray Ltd boosted its stake in CRISPR Therapeutics by 76.9% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,764,532 shares of the company’s stock valued at $134,467,000 after purchasing an additional 1,201,600 shares during the period. SR One Capital Management LP boosted its stake in CRISPR Therapeutics by 94.4% during the 3rd quarter. SR One Capital Management LP now owns 2,038,763 shares of the company’s stock valued at $132,132,000 after purchasing an additional 989,812 shares during the period. State Street Corp boosted its stake in CRISPR Therapeutics by 35.6% during the 2nd quarter. State Street Corp now owns 3,270,596 shares of the company’s stock valued at $159,082,000 after purchasing an additional 859,334 shares during the period. Finally, ARK Investment Management LLC boosted its stake in CRISPR Therapeutics by 7.5% during the 4th quarter. ARK Investment Management LLC now owns 10,522,057 shares of the company’s stock valued at $551,777,000 after purchasing an additional 735,084 shares during the period. 69.20% of the stock is owned by institutional investors and hedge funds.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.